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Wall Street closes up as concerns ease around Fed, Russian default – SABC News

All three of Wall Street’s major indexes grew more than 1% on Thursday as investors discussed the Federal Reserve’s approach to interest hikes worrying about prospects for Russia’s default when borrowers received loans.

Investors in Russia are assured that, at least for now, it would have stopped what would have been a default for the first time in a century.

This is because payers received a refund, in dollars, of a Russian bond that fell this week, two market sources told Reuters on Thursday.

The S&P 500, the Dow Jones Industrial Average and the Nasdaq recorded the largest 3 percent gain since the beginning of November 2020 as the report boosted the volatility in the stock market and the volatility.

The S&P 500 also saw its third straight day of more than 1% growth.

The Fed has raised interest rates by four percentage points on Wednesday as expected and forecasts strong economic growth plans as lawmakers prepare for next year’s economic growth forecast. .

Reports of Russian payments and the destruction of the “up” technology cuts and entries, including S&P and Nasdaq, have all gone up, according to Michael James, chief financial officer at Wedbush Securities.

“It gives investors the opportunity to be cautious, which is a change from the negative optimism we have had since the beginning of January,” James said. “People have experienced a sense of security and a rising reality. President (Jerome) Powell has said this about the media since early December,” he said.

“The fact that there is no big surprise in the Fed’s plans coming out of the meeting, in Powell’s comments, gave people the impression that perhaps we have seen it as bad as it will soon be.”

Describing the Fed’s plan as dovish, Phil Blancato, CEO of Ladenburg Thalmann Asset Management in New York also said that ahead of Russia, Ukraine peace talks helped the situation.

Says Blancato: “What you see today is similar to what it was yesterday.

“Decisions can be made for foreign exchange, the positive impact of the Federal Reserve on stocks and safe haven, allowing for risk.”

The Dow Jones Industrial Average rose 417.66 points, or 1.23%, to 34,480.76, the S&P 500 gained 53.81 points, or 1.23%, to 4,411.67 and the Nasdaq Composite added 178.23 points, or 1.3.7.

The energy sector is the biggest gainer among the S&P 11 sectors, limiting 3.5% as oil prices rise 8% as crude market recovers from several days of losses with a focus on supply shortages. weeks to come due to restrictions on. Russia.

Local investors are the most protected companies in the industry adding only 0.5% to customer value, which rose 0.6%.

Interest rates affected the S&P bank index index dropped the session slightly to 2% earlier in the session and closed 3.7% on Wednesday.

The US monetary system has rebounded, having reached the best level in more than two years.

Russian and Ukrainian officials met again on Thursday for peace talks, but said their situation was “isolated”.

Earlier on Thursday, data showed the weekly unemployment rate fell last week as demand for hard labor, saving the economy for another month of hard labor profits.

The issue continues to overwhelm the NYSE downtrend by a 4.10-to-1 ratio; in the Nasdaq, a 2.93-to-1 ratio supported the forward.

The S&P 500 posted 18 new 52-week highs with no new lows; Nasdaq Composite records 46 new highs and 53 new reductions.

The US exchange rate of 12.88 billion shillings changed compared to 20 days moving an average of 14.18 billion.

Wall Street closes up as concerns ease around Fed, Russian default – SABC News

Source link Wall Street closes up as concerns ease around Fed, Russian default – SABC News

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